The demand for piperylene-based adhesives is increasing significantly in automotive applications as they are used for structural metal bonding, structural fiber-reinforced plastic bonding, interior trim, exterior trim, and glass bonding. These adhesives are commonly used in the production of automobiles and automotive components. These adhesives help in eliminating the rivets and welds of external body panels and in reducing the vehicle weight, thereby improving fuel efficiency. Thus, the increase in fuel price and the rise in environmental concerns such as pollution are expected to drive the use of adhesives in the automotive industry, thereby driving the growth of the piperylene market during the forecast period.
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As per Technavio, the growing demand for PSA will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Piperylene Market : Growing Demand For PSA
Piperylene is a key ingredient used in the formation of pressure-sensitive adhesives (PSA). This adhesive adheres to the substrate upon application of pressure, while other adhesives require solvents or heat as a means of adhesion. Moreover, PSA is a key category of adhesive tapes and is relatively thin and flexible with a single or double-sided coating. PSA is widely used to manufacture pressure-sensitive labels. The increase in e-commerce sales and demand for clean labels is boosting the demand for pressure-sensitive labels. These labels on product packaging provide product information which helps in locating products through barcodes, authenticating devices. They also add to the visual appeal of product packaging which helps in promotion and product branding. Thus, the demand for PSA is increasing, which will have a positive impact on the growth of the market.
“Factors such as the growing demand from emerging economies, and the increasing vendor initiative toward sustainable operations will have a significant impact on the growth of the piperylene market value during the forecast period,” says a senior analyst at Technavio.
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Piperylene Market: Segmentation Analysis
This market research report segments the piperylene market by application (adhesives, plastics and others), and geography (APAC, Europe, MEA, North America and South America).
The APAC region led the piperylene market in 2019, followed by Europe, North America, MEA and South America. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the increasing demand for infrastructure development and the presence of the highest number of plastic manufacturing plants in the world.
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Some of the key topics covered in the report include:
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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